Fair Isaac (NYSE:FICO) Price Target Raised to $1,850.00 at Needham & Company LLC

Fair Isaac (NYSE:FICO) had its price target upped by Needham & Company LLC from $1,500.00 to $1,850.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages also recently weighed in on FICO. Raymond James boosted their price objective on Fair Isaac from $1,413.00 to $1,418.00 and gave the company an outperform rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on Fair Isaac from $1,350.00 to $1,500.00 and gave the company a sector perform rating in a research report on Thursday. Robert W. Baird boosted their price objective on Fair Isaac from $1,264.00 to $1,700.00 and gave the company a neutral rating in a research report on Thursday. Redburn Atlantic assumed coverage on Fair Isaac in a research report on Tuesday, April 16th. They issued a neutral rating and a $1,113.00 price objective for the company. Finally, Wolfe Research assumed coverage on Fair Isaac in a research report on Tuesday, July 9th. They issued an outperform rating and a $1,725.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $1,399.45.

Fair Isaac Stock Performance

FICO traded down $9.72 on Thursday, hitting $1,569.23. 45,866 shares of the company were exchanged, compared to its average volume of 179,966. Fair Isaac has a 12 month low of $811.99 and a 12 month high of $1,668.63. The firm has a fifty day simple moving average of $1,473.11 and a two-hundred day simple moving average of $1,330.59. The stock has a market capitalization of $38.78 billion, a PE ratio of 82.83, a price-to-earnings-growth ratio of 4.31 and a beta of 1.34.

Fair Isaac announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Joanna Rees sold 500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $1,350.00, for a total value of $675,000.00. Following the sale, the director now directly owns 20,618 shares of the company’s stock, valued at $27,834,300. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Joanna Rees sold 500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $1,350.00, for a total value of $675,000.00. Following the sale, the director now directly owns 20,618 shares of the company’s stock, valued at $27,834,300. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Deal sold 13,591 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $1,374.30, for a total value of $18,678,111.30. Following the completion of the sale, the executive vice president now directly owns 49,314 shares in the company, valued at $67,772,230.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,014 shares of company stock valued at $21,888,518 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Fair Isaac

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new stake in shares of Fair Isaac in the first quarter worth $25,000. Tortoise Investment Management LLC lifted its holdings in shares of Fair Isaac by 81.8% during the second quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock valued at $30,000 after purchasing an additional 9 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Fair Isaac during the first quarter valued at $26,000. Family Firm Inc. bought a new position in shares of Fair Isaac during the second quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new position in shares of Fair Isaac during the first quarter valued at $31,000. 85.75% of the stock is owned by hedge funds and other institutional investors.

Fair Isaac Company Profile

Fair Isaac Corporation develops analytic, software, and digital decisioning technologies and services that enable businesses to automate, enhance, and connect decisions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Scores and Software. The Software segment provides pre-configured analytic and decision management solution designed for various business needs or processes, such as account origination, customer management, customer engagement, fraud detection, financial crimes compliance, and marketing, as well as associated professional services.